![\"\"](\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/ad4dbank-of-ghana.jpg\" "\\"bank-of-ghana\\"")
<\/a>The total assets of the banking industry in Ghana between January and October 2011 amounts to GH\u00a220.6 billion, the Bank of Ghana (BoG) has announced.<\/p>\nThe assets of the industry grew by 26.4% in year-on-year terms during the period compared to the 35.2% growth for the same period in 2010, said the central bank in its Monetary Policy Committee (MPC) press conference December 21, 2011.<\/p>\n
\u201cIn year-on-year terms, total assets of the banking industry grew by 26.4 per cent between January and October 2011 to GH\u00a220.6 billion compared with a 35.2% growth for the same period in 2010,\u201d the press statement said.<\/p>\n
It adds \u201cThe growth in assets was funded mainly by deposits which grew by 39.3% on a year-on-year basis to GH\u00a215 billion during the period, compared to GH\u00a210.8 billion in 2010.\u201d<\/p>\n
\u201cAnnual growth in broad money supply (inclusive of foreign currency deposits) firmed up to 38.1% at the end of October 2011, compared to 33.1% in October 2010. In nominal terms, total liquidity stood at GH\u00a216.9 billion at the end of October 2011. On a year-on-year basis, reserve money grew by 43.6% in November 2011 compared with 42.3% growth in the same period of 2010,\u201d it continues.<\/p>\n
According to the BoG governor Mr Kwesi Amissah-Arthur who is also chairman of the MPC, the banking system continued to show steady growth in assets and profitability, although at a relatively slower pace than a year ago.<\/p>\n
Giving more details of the banking sector, Mr Amissah-Arthur noted that the financial soundness indicators in terms of earnings, liquidity and capital adequacy remained strong.<\/p>\n
Although the Capital Adequacy Ratio (CAR) for the banking industry declined to 17.1% in October 2011 from 20.2% a year ago, the governor indicted that the industry CAR was well above the 10% benchmark.<\/p>\n
The statement shows that non-performing loans (NPL) at the industry level remained high, although declining.\u00a0 \u201cThe NPL ratio improved to 15.3% in October 2011 from 16.9% in October 2010,\u201d it added.<\/p>\n
From lenders to borrowers<\/strong><\/p>\nThe BoG\u2019s November 2011 Credit Conditions Survey highlighted in the statement revealed that there was an overall \u201cnet easing of credit stance for enterprises and households.\u201d<\/p>\n
\u201cThe easing in credit stance was the result of a number factors including improved capital position, access to market financing and competition from other banks\u201d but access to credit by small and medium enterprises and for mortgages was tightened on account of increases in additional security requirements,\u201d it said.<\/p>\n
Credit to the private sector also grew steadily into the last quarter of the year.<\/p>\n
\u201cBy the end of October 2011, it had increased by GH\u00a21.7 billion, on a year-on-year basis, to GH\u00a27.9 billion. In real terms, credit flow to the private sector recorded an annual growth of 16.9 per cent, compared to a decline of 0.2% a year earlier.\u201d<\/p>\n
On interest rates, the BoG said it has broadly trended downwards throughout the year.<\/p>\n
On the money market, the 91 day and 182-dayTreasury bill rates declined to 9.6 and 10.8 per cent respectively in November 2011 from 12.3 and 12.7 per cent respectively in December 2010, it said.<\/p>\n
The rates on the 1-year note, the report showed, also declined by140 basis points from the beginning of the year to 11.3% in November 2011 \u2013 while the 2-year fixed note rates went down by 60 basis points to 12.1% over the same period.<\/p>\n
\u201cThe average three-month deposit rate of commercial banks fell to 7.8% in November 2011 from 10.5% in December 2010. Similarly, average savings deposit rate also declined to 4.4%, from 5.9% over the same period,\u201d the BoG report highlighted with average base rate within the banking industry declining to 22.8% in November 2011 from 25.8% in December 2010.<\/p>\n
By Ekow Quandzie<\/p>\n
Comments<\/h4><\/p>\n","protected":false},"excerpt":{"rendered":"
You Are Here: Home \u00bb General News , Lead Story \u00bb Ghana\u2019s banking industry\u2019s assets hit GH\u00a220.6b in 2011 as credit eases Page last updated at Monday, December 26, 2011 17:17 PM \/\/ The total assets of the banking industry in Ghana between January and October 2011 amounts to GH\u00a220.6 billion, the Bank of Ghana (BoG) has announced. The assets of the industry grew by 26.4% in year-on-year terms during the period compared to the 35.2% growth for the same period in 2010, said the central bank in its Monetary Policy Committee (MPC) press conference December 21, 2011. \u201cIn year-on-year terms, total assets of the banking industry grew by 26.4 per cent between January and October 2011 to GH\u00a220.6 billion compared with a 35.2% growth for the same period in 2010,\u201d the press statement said<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21749","post","type-post","status-publish","format-standard"],"yoast_head":"\n
Ghana\u2019s banking industry\u2019s assets hit GH\u00a220.6b in 2011 as credit eases - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh\u00a220-6b-in-2011-as-credit-eases\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana\u2019s banking industry\u2019s assets hit GH\u00a220.6b in 2011 as credit eases - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"You Are Here: Home \u00bb General News , Lead Story \u00bb Ghana\u2019s banking industry\u2019s assets hit GH\u00a220.6b in 2011 as credit eases Page last updated at Monday, December 26, 2011 17:17 PM \/\/ The total assets of the banking industry in Ghana between January and October 2011 amounts to GH\u00a220.6 billion, the Bank of Ghana (BoG) has announced. The assets of the industry grew by 26.4% in year-on-year terms during the period compared to the 35.2% growth for the same period in 2010, said the central bank in its Monetary Policy Committee (MPC) press conference December 21, 2011. \u201cIn year-on-year terms, total assets of the banking industry grew by 26.4 per cent between January and October 2011 to GH\u00a220.6 billion compared with a 35.2% growth for the same period in 2010,\u201d the press statement said\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/ad4dbank-of-ghana.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Ghana\u2019s banking industry\u2019s assets hit GH\u00a220.6b in 2011 as credit eases\",\"datePublished\":\"2011-12-26T17:32:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/\"},\"wordCount\":605,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/ad4dbank-of-ghana.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/12\/26\/ghanas-banking-industrys-assets-hit-gh%c2%a220-6b-in-2011-as-credit-eases\/\",\"name\":\"Ghana\u2019s banking industry\u2019s assets hit GH\u00a220.6b in 2011 as credit eases - 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